“Provide is tighter than what folks could be used to, and demand, notably in America, is extraordinary,” Mr. Lussier mentioned. “There will likely be some stress on pricing, and in sure classes, retailers should work more durable to seek out the diamonds they need.”
Shruti Chhajer Ranka, the artistic head of Shruti Sushma, a luxurious jeweler primarily based in Ahmedabad and Bangalore, India, is one in every of them. “I’m engaged on a design with one-carat oval diamonds of the identical coloration and readability,” she wrote in an e-mail final month. “It has taken me six weeks to acquire half of what’s required within the design, which in any other case would take me no more than two weeks.”
Jewellery set with coloured stones could also be much more troublesome to seek out — and extra expensive — as a result of mines around the globe have had manufacturing delays that at the moment are cascading by way of the gross sales pipeline.
In March 2020, the British mining firm Gemfields suspended operations at its Kagem emerald mine in Zambia, often called the world’s largest-producing single emerald mine, and at its Montepuez ruby mine in Mozambique. Manufacturing was not restarted till March 2021, so “neither produced new gem stones for a 12 months,” Adrian Banks, Gemfields’ managing director of product and gross sales, wrote in an e-mail.
For context: In 2019, Kagem yielded 208,500 carats of premium emerald, and Montepuez, 81,270 carats of premium ruby, the corporate mentioned.
(And whereas lack of manufacturing may imply that consumers face delays in getting that good emerald necklace or ruby earrings, gem miners and brokers in East Africa, the world’s most important gem-producing area, have confronted a lot larger issues over the previous 12 months: “When borders had been closing, it grew to become clear that in these rural, remoted subsistence communities, you get to meals insecurity in a short time,” mentioned Monica Stephenson, founding father of Anza Gems, a Seattle firm that makes a speciality of gems from Kenya and Tanzania.)